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Circular No. 258
Federal Reserve Bank of New York
SECOND
FEDERAL
RESERVE
DISTRICT
COLLECTION OF CHECKS
March 1, 1920
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FEDERAL
OF
RESERVE
NEW
BANK
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YORK
f Circular No. 258 "1
L March 1, 1920 J
Check Department
Collection of Checks
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To all Member Banks in the Second Federal Reserve District
D E A R SIRS:—You will find in the following pages the current rules and regulations
covering the relationship of member banks with this bank in the collection of checks,
together with some new rulings which have not been issued in printed form—all of which
^ supersede the provisions of previous circulars issued by us on this subject.
Use of Check Collection System is Voluntary
No member bank is required to use the check collection system. A member bank may
send checks for collection without charge through the Federal Reserve Bank regularly,
occasionally, or not at all; or may collect them through present correspondents or in any
other manner considered advantageous.
Checks from Banking Institutions in the Second Federal Reserve District
/
The Federal Reserve Bank of New York receives at par from its member banks
checks drawn on banking institutions (including private bankers) in the United States
which can be handled at par in accordance with "Federal Reserve Interdistrict Collection
System'* par list published and distributed by the Federal Reserve Board from time to time.
Checks from Federal Reserve Banks and Banking Institutions in Other Districts
i &,
The Federal Reserve Bank of New York receives at par from other Federal Reserve
Banks as well as from their member banks, checks drawn upon banking institutions and
private bankers of this district which can be collected at par. All such checks are
received only for the credit of the respective Federal Reserve Banks. Checks drawn on
savings banks will be handled separately as collection items.
When Proceeds of Checks will be Available
For all checks so received credit entry at par will be given but the proceeds will not
be counted as part of the reserve nor become available to meet checks drawn until the
appropriate period indicated on the time schedule*h&s elapsed. These periods are based
upon the mail time required for items to reach the paying bank plus the mail time required
for the paying bank to remit to the Federal Reserve Bank of its district. By averaging the
mail time it has been possible to include all points in the country in four divisions, namely,
one, two, four and eight-day points. The schedule is subject to change, and for convenience
it has been arranged by states rather than by Federal reserve districts. The proceeds of
two-day items forwarded on Saturday will be available on Tuesday. The proceeds of
four-day items forwarded on Thursday will be available on Tuesday and the proceeds of
four-day items forwarded on Friday and Saturday will be available on Wednesday.
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COLLECTION OF CHECKS
How Checks will be Handled
Checks drawn on member banks in this Federal reserve district will be forwarded direct
to the drawee bank for remittance on day of receipt. A return remittance form of letter,
for the use of the remitting bank, will be enclosed with every outgoing transit letter.
This form should be returned with the remittance draft.
Checks drawn on nonmember banks in this district will be sent direct to the drawee
banks for remittance, or in our discretion, may be sent to other banks for collection.
Checks drawn on member or nonmember banks in any other district will be sent to
the Federal Reserve Bank of such district for collection.
Special Routing Arrangements
If it is desired to send checks for collection direct to other Federal Reserve Banks or
their branches, the Federal Reserve Bank of New York should be notified in order that it
may make the necessary arrangements with the other Federal Reserve Banks and branches.
Unpaid Checks and Protest Instructions
The Federal Reserve Bank of New York receives and forwards cash items only under
the following instructions:
Wire direct to this bank nonpayment of items of $500 or over, naming indorsement
immediately preceding that of this bank, and giving reason for nonpayment.
Items of $10 or under—DO N O T P R O T E S T
Items of $10.01 and over—PROTEST,
if items do not bear on the face this stamp | H. p. 1—120 | ,
or similar stamp containing the transit number of a
preceding bank indorser.
If it is desired t h a t cash items be handled other than in accordance with the above
instructions, they must be forwarded as collection items.
Any unpaid items received in any letters from the Federal Reserve Bank, unless held
for protest, should be returned with the remittance for such letter, the total unpaid items
to be deducted from the footing of such letter, and the net amount remitted, so that in
each instance the remittance plus unpaid items returned therewith, plus items, if any,
held for protest will equal the amount of the letter. Items held for protest should be
returned with draft in payment of the next succeeding letter, the amount of the protest
fees being deducted from such letter.
The Federal Reserve Bank of New York does not receive for collection as cash items
drafts drawn on savings banks in this district or protested checks when forwarded for
collection for the second time. Such protested checks should be included in the member
bank's collection letter.
Restrictions as to Indorsements
To insure direct routing the Federal Reserve Bank of New York does not accept
checks drawn on a bank located outside of this district when such items bear the indorsement of a bank located outside of this district. The other Federal Reserve Banks have
adopted similar rules.
Sorting Checks
In order to expedite the forwarding of checks and the obtaining of prompt credit
therefor, member banks are requested in the preparation of their letters to sort their
checks into the following classes and list each class on a separate sheet:
(a) Items drawn on members of the New York Clearing House (See page 6)
(6) Items drawn on other banks in the Boroughs of Manhattan (above 59th
Street) and the Bronx and in Brooklyn
(c) Items drawn on one-day points
(d) Items drawn on two-day points, subdivided into
I
COLLECTION
OF
CHECKS
1. A letter containing items drawn upon banks situated in the
State of New York
2. A second letter containing items drawn upon banks situated in
the portion of New Jersey that is in this district, and Fairfield County,
Conn., and
3. A third letter covering all the other items on the two-day points
outside of this district
(e) Items drawn on four-day points
(f) Items drawn on eight-day points
All letters received, classified as above, will be credited in full for the total shown,
and errors in listing or footing will be adjusted by a separate debit or credit. Checks
received unsorted will be made available for the longest period required to collect any
item enclosed. I t is requested that such letters should not contain coupons or bonds due
or past due, nor maturing notes and drafts.
Federal Reserve District Number on Checks
All banking institutions in this district are requested to print on their own checks
and the checks used by their depositors the figure " 2 " (signifying Federal Reserve District
No. 2), preferably in a large skeleton figure in the center of the check.
Collectible at Par through the Federal Reserve Bank of New York
Member banks and banking institutions remitting at par are entitled to place the words,
"Collectible at Par through the Federal Reserve Bank of New York," on their own checks
and the checks used by their depositors. Attention is called to the desirability of availing
of this privilege.
Government Checks
Member banks of this district, other than members of the New York Clearing House
Association, may include in their remittances to the Federal Reserve Bank of New York
for immediate credit at par, but subject to final payment by the Treasurer of the United
States, all Government warrants and checks drawn on the Treasurer of the United States.
In New York City member banks may send Government warrants and checks to the
Federal Reserve Bank through the Clearing House subject to final payment by the Treasurer
of the United States.
The Government has for many years exercised the right of returning at any time warrants;
and checks which for any cause have not been considered good, and the Federal Reserve Bank
of New York as fiscal agent of the United States as a condition of receiving Government warrants
and checks on the Treasurer of the United States from member banks or through the New York
Clearing House reserves the right to charge back any such item and return the same at any
time and unconditionally to the institution from which it was received.
Conditions Governing the Use of the System
Every bank sending checks or other cash items to the Federal Reserve Bank of New York
or to another Federal Reserve Bank direct will be understood to have agreed to the terms and
conditions herein set forth and to have thereby specifically agreed that in receiving such items the
Federal Reserve Bank of New York will act only as the collecting agent of the sending bank,
will assume no responsibility other than for due diligence and care in forwarding such items
promptly, and will be authorized to send such items for payment direct to the bank on which
they are drawn or, at its discretion, to another agent for collection.
The right is reserved to withdraw, add to, or amend at any time or from time to time
any or all of the foregoing rules and regulations with or without previous notice.
Yours very truly,
J.
H.
CASE,
Acting Governor.
o
MEMBERS OF NEW YORK CLEARING HOUSE ASSOCIATION AND
NON-MEMBERS CLEARING THROUGH THEM
No.
21
75
13
6
2
1
103
70
102
30
74
12
36
99
111
122
77
78
72
45
Name
Adams Express Company, Money orders (clear through 21)
American Exchange National Bank
American Express Company, Money orders (clear through 23)
Assistant Treasurer of the United States at New York
Atlantic National Bank
Bank of America
Bank of Long Island (clear through 2)
Bank of the Manhattan Company
Bank of Metropolis (clear through 2)
Bank of Montreal, New York Agents (clear through 8)
Bank of New York, N . B. A.
Bank of Washington Heights (clear through 4)
Bankers Trust Company
Battery Park National Bank (clear through 54)
Bowery Bank
Brooklyn Trust Company
Canadian Bank of Commerce, New York (clear through 21)
Canadian Northern Express Company Money orders (clear through 21)
Canadian Express Company, Money orders (N. Y.) (clear through 23)
Chatham & Phenix National Bank
Chase National Bank
Chemical National Bank
Citizens' National Bank
Coal & Iron National Bank
Columbia Trust Company
Columbia Bank
Colonial Bank (clear through 17)
Commercial Exchange Bank
Commonwealth Bank
Continental Bank
Corn Exchange Bank
Dominion Express, Money orders (clear through 8)
59
121
120
108
76
82
65
115
81
17
107
East River National Bank
Farmers Loan & Trust Company
Federal Reserve Bank of New York
Fidelity Trust Company
Fifth Avenue Bank
Fifth National Bank
First National Bank, Jersey City, N . J. (clear through 21)
First National Bank
Franklin Trust Company
Garfield National Bank
Grace, W. R. & Company, Bank (clear through 45)
Great Northern Express Company, Money orders (clear through 74)
Greenwich Bank
Guaranty Trust Company
No.
33
53
Name
Hamilton Trust Company Brooklyn, N. Y. (clear through 2)
Hanover National Bank
67
119
Importers' & Traders' National Bank
International Bank (clear through 8)
Irving National Bank
Irving Trust Company
110
91
80
116
Lawyers Title Insurance & Trust Company
Liberty National Bank
Lincoln National Bank
Lincoln Trust Company
4
3
44
117
118
23
15
8
54
. ..
71
92
114
. ..
28
113
85
63
...
96
Mechanics & Metals National Bank
Mechanics Trust Company, Bayonne, N. J. (clear through 33)
Merchants Bank
Metropolitan Bank
Metropolitan Trust Company
Mutual Bank (clear through 54)
Nassau National Bank, Brooklyn
National Bank of Commerce
National Butchers' & Drovers Bank
National City Bank
National Park Bank
Newfoundland Express Money Orders (clear through 8)
New Netherland Bank (clear through 4)
New York County National Bank
New York Produce Exchange Bank
New York Trust Company
North Side Bank of Brooklyn (clear through 54)
Northern Pacific Express Money orders (clear through 65)
Pacific Bank
Pacific Express Company, Money orders (clear through 74)
Peoples Trust Company of Brooklyn
Post Office Money orders
Seaboard National Bank
Second National Bank
Sherman National Bank (clear through 119)
Southern Express Co. Money orders (clear through 4)
State Bank
106
Title Guarantee & Trust Company
100
104
Union Exchange National Bank
U. S. Mortgage & Trust Company
•• •
Wells Fargo & Company, Express Money orders (clear through 23)
Western Express Company, Money orders (clear through 65)
...
Yorkville Bank (clear through 54)
Federal Reserve Bank of New York
SECOND
FEDERAL
RESERVE
DISTRICT
TIME SCHEDULE
Showing When the Proceeds of
Items Will Become Available
March 1, 1920
FEDERAL RESERVE BANK OF NEW YORK
Schedule Showing When the Proceeds of Items Will Become Available
(Superseding Schedule Issued June 1, 1919)
IMMEDIATE CREDIT
When received by 9 A. M.
New York Clearing House banks
Checks and warrants on Treasurer U. S. Washington
New York banks located above 59th Street as follows:
Republic Bank of New York
Public Nat'l Bank (Bronx & Madison Are. Branches)
Bank of United States
Twenty-third Ward Bank and Branch
Broadway Central Bank
Westchester Avenue Bank
Bronx Borough Bank and Branch John Nemeth State Bank
Bronx National Bank
Alvino & Figlio
Chelsea Exchange Bank
Perrera & Company
Cosmopolitan Bank
Salvatore de Vita
also
[arrm^an Nationaf Bank } Manufacturers Trust Company (West Side Office)
1 Hi
Brooklyn Banks as follows:
Bank of Coney Island
Mechanics Bank of Brooklyn (and Branches)
First National Bank of Brooklyn Montauk Bank
Greenpoint National Bank
National City Bank
Homestead Bank
Peoples National Bank
Kings County Trust Company
Public Natl Bank (Graham Av. & Pitkin Av. Brs.)
Manufacturers Trust Company
Ridgewood National Bank
(Brooklyn Office)
Anthony Sessa & Son (and Branches)
Municipal Bank
American Tr. Co. (Montague Street Branch)
When received by 3 P. M.
Federal Reserve Exchange Drafts
Federal Reserve Transfer Drafts
ONE DAY AFTER RECEIPT
New York City—Balance of Manhattan, when received by 9 A. M.
No.
Boston
District
1
Philadelphia
"
3
Richmond
"
5
Baltimore
Branch of 5
Pittsburgh
"
'* 4
Buffalo
"
" 2
TWO DAYS AFTER RECEIPT
]tfo.
Cleveland
Cincinnati
Chicago
Detroit
Atlanta
Birmingham
Jacksonville
Nashville
Minneapolis
St. Paul
St. Louis
Memphis
Louisville
Little Rock
Kansas City, Mo.
Kansas City, Kans.
Omaha
District
Branch of
District
Branch of
District
Branch of
Branch of
Branch of
District
In "
District
Branch of
Branch of
Branch of
District
4
4
7
7
6
6
6
6
9
9
8
8
8
8
10
10
In
Branch of 10
'Except banks in cities referred to in the first column.
Banks in
Connecticut
Delaware
District of Columbia
Maine
•Maryland
*Massachusetts
New Hampshire
New Jersey
*New York
•Pennsylvania
Rhode Island
Vermont
•Virginia
FOUR DAYS AFTER RECEIPT
Dallas
El Paso
Houston
New Orleans
Denver
Spokane
Salt Lake City
Portland, Ore.
Seattle
Los Angeles
San Francisco
District
Branch of
Branch of
Branch of
Branch of
Branch of
Branch of
Branch of
Branch of
Branch of
District
No.
11
11
11
6
10
12
12
12
12
12
12
Banks in
Alabama
Arkansas
*Georgia
•Florida
•Illinois
Indiana
Iowa
•Kansas
•Kentucky
•Michigan
E I G H T DAYS AFTER RECEIPT
•Minnesota
Mississippi
•Missouri
North Carolina
•Ohio
South Carolina
•Tennessee
West Virginia
Wisconsin
Banks in
Arizona
•California
•Colorado
Idaho
•Louisiana
Montana
•Nebraska
Nevada
New Mexico
North Dakota
Oklahoma
•Oregon
South Dakota
•Texas
•Utah
•Washington
Wyoming
•Except banks in cities referred to in thefirstcolumn.
TIME SCHEDULE INFORMA1[TON
Two-day items forwarded Saturday will be available Tuesday.
Four-day items forwarded Thursday will be available Tuesday, and those forwarded
Friday and Saturday will be available Wednesday.
T o obtain quickest availability of funds, sort and list checks in accordance with the
foregoing time schedule, with a separate letter or total for each separate time group.
Checks received unsorted will be made available for the longest period of any items
enclosed.
Banks desiring t o send checks direct to other Federal Reserve Banks or their branches,
will please notify us in order t h a t we may make the necessary arrangements with t h e
other Federal Reserve Banks and branches.
Checks will be received and forwarded by the Federal Reserve Bank of New York,
subject t o t h e following instructions:
Wire direct to this bank nonpayment of items of $500 or over, naming endorsement
immediately preceding t h a t of this bank, and giving reason for nonpayment.
I t e m s of $10 or under—DO N O T P R O T E S T
(
Items of $10.01 and o v e r — P R O T E S T
If items do not bear on the face this
stamp IN. P. I—IM| or a similar stamp containing the transit number of a preceding
bank endorser.
Checks with special instructions, protested checks forwarded for payment t h e second
time and drafts drawn on savings banks in this district, should not be included in cash
letters. T h e y will be handled for collection only.
Every bank sending checks or other cash items to the Federal Reserve Bank of New York or
to another Federal Reserve Bank direct will be understood to have agreed to the terms and conditions
of its Circular No. 258, and to have thereby specifically agreed that in receiving such items the Federal
Reserve Bank of New York will act only as the collecting agent of the sending bank, will assume no
responsibility other than for due diligence and care in forwarding such items promptly, and will be
authorized to send such items for payment direct to the bank on which they are drawn or, at its discretion, to another agent for collection.
its-
Federal Reserve Bank of New York
S E C O N D
F E D E R A L
R E S E R V E
BUFFALO BRANCH
TIME SCHEDULE
Showing W h e n the Proceeds of
Items Will Become Available
April 1, 1920
D I S T R I C T
F E D E R A L RESERVE BANK O F NEW YORK
Buffalo
DISTRICTS
NO.
NO.
Branch
S c h e d u l e Showing "When the Proceeds of Items
Will B e c o m e Available
(Superseding Schedule Issued June 1, 1919)
BOSTON
N E W YORK
1
2
CHICAGO
ST
LOUIS
PHILADELPHIA
3
MINNEAPOLIS
CLEVELAND
4
KANSAS CITY, M O
RICHMOND
5
DALLAS
ATLANTA
6
SAN FRANCISCO
12
ONE DAY AFTER RECEIPT
New York Clearing House banks
New York banks located above 59th Street as follows:
Republic Bank of New York
Public Nat'l Bank (Bronx & Madison Ave. Branches)
Bank of United States
Twenty-third Ward Bank and Branch
Broadway Central Bank
Westchester Avenue Bank
Bronx Borough Bank and Branch John Nemeth State Bank
Bronx National Bank
Alvino & Figlio
Chelsea Exchange Bank
Perrera & Company
Cosmopolitan Bank
Salvatore de Vita
also f Gotham National Bank 1 Manufacturers Trust Company (West Side Office)
LHarriman National BankJ
Brooklyn Banks as follows:
Bank of Coney Island
Mechanics Bank of Brooklyn (and Branches)
First National Bank of Brooklyn Montauk Bank
Greenpoint National Bank
National City Bank
'Homestead Bank
Peoples National Bank
I Kings County Trust Company
Public Natl Bank (Graham Av. & Pitkin Av. Brs.)
Manufacturers Trust Company
Ridgewood National Bank
(Brooklyn Office)
Anthony Sessa & Son (and Branches)
American Tr. Co. (Montague Street Branch)
Municipal Bank
Banks in
No.
District 4
(Cleveland
Branch of 4
J Pittsburgh
j Chicago
District 7
' Detroit
Branch of 7
TWO DAYS AFTER RECEIPT
Balance of Manhattan, New York City
District
<<
Branch of
District
Branch of
District
Branch of
Branch of
Branch of
District
Branch of
Branch of
Branch of
District
In u
District
In Dist.
Branch of
•Except banks in cities referred to in the first column.
1
3
4
5
5
6
6
6
6
8
8
8
8
9
9
10
10
10
8
9
to
1 1
IMMEDIATE CREDIT
When received by 10 a. m. (9 a. m. Saturdays)
Buffalo banks
United States Treasury Checks
When received by 3 p. m.
Federal Reserve Exchange Drafts
Federal Reserve Transfer Drafts
Boston
Philadelphia
Cincinnati
Richmond
Baltimore
Atlanta
Birmingham
Jacksonville
Nashville
St. Louis
Memphis
Louisville
Little Rock
Minneapolis
St. Paul
Kansas City, Mo.
Kansas City, Kans.
Omaha
7
Banks in
Connecticut
Delaware
Maine
Maryland
Massachusetts
New Hampshire
New Jersey
*New York
•Pennsylvania
Rhode Island
Vermont
3-Cf •
FOUR DAYS AFTER RECEIPT
New Orleans
Denver
Dallas
El Paso
Houston
San Francisco
Los Angeles
Seattle
Salt Lake City
Spokane
Portland, Ore.
Branch of
Branch of
District
Branch of
Branch of
District
Branch of
Branch of
Branch of
Branch of
Branch of
No.
6
10
11
11
11
12
12
12
12
12
12
Banks in
*Alabama
•Minnesota
Arkansas
Mississippi
*Georgia
•Missouri
•Florida
North Carolina
•Illinois
•Ohio
Indiana
South Carolina
Iowa
•Tennessee
•Kansas
•Virginia
•Kentucky
West Virginia
•Michigan
Wisconsin
District of Columbia
Banks in
EIGHT DAYS AFTER RECEIPT
Arizona
•California
•Colorado
Idaho
•Louisiana
Montana
•Nebraska
Nevada
New Mexico
North Dakota
Oklahoma
•Oregon
South Dakota
•Texas
•Utah
•Washington
Wyoming
•Except banks in cities referred to in the first column.
TIME SCHEDULE INFORMATION
Two-day items forwarded Saturday will be available Tuesday.
Four-day items forwarded Thursday will be available Tuesday, and those forwarded
Friday and Saturday will be available Wednesday.
To obtain quickest availability of funds, sort and list checks in accordance with the
foregoing time schedule, with a separate letter or total for each separate time group.
Checks received unsorted will be made available for the longest period of any items
enclosed.
Banks desiring to send checks direct to other Federal Reserve Banks or their branches,
will please notify us in order that we may make the necessary arrangements with the
other Federal Reserve Banks and branches.
Checks will be received and forwarded by the Federal Reserve Bank of New York,
subject to the following instructions:
Wire direct to this bank nonpayment of items of $500 or over, naming indorsement
immediately preceding that of this bank, and giving reason for nonpayment.
Items of $10 or under—DO NOT PROTEST
{ If items do not bear on the face this
stamp \ w. r. 1—1291 or a similar stamp conItems of $10.01 and over—PROTEST
taining the transit number of a preceding
bank indorser.
Checks with special instructions, protested checks forwarded for payment the second
time and drafts drawn on savings banks in this district, should not be included in cash
letters. They will be handled for collection only.
Every bank sending checks or other cash items to the Federal Reserve Bank of New York or
to another Federal Reserve Bank direct will be understood to have agreed to the terms and conditions
of its Circular No. 258, and to have thereby specifically agreed that in receiving such items the Federal
Reserve Bank of New York will act only as the collecting agent of the sending bank, will assume no
responsibility other than for due diligence and care in forwarding such items promptly, and will be
authorized to send such items for payment direct to the bank on which they are drawn or, at its discretion, to another agent for collection.
Federal Reserve Bank of New York
S E C O N D
F E D E R A L
R E S E R V E
TIME SCHEDULE
Showing W h e n t h e Proceeds of
Items Will Become Available
Effective March 1, 1921
D I S T R I C T
Q-iT% ' Cr*JU*+A+4~*(
FEDERAL RESERVE BANK OF NEW YORK
Schedule Showing When the Proceeds of Items Will Become Available
(Superseding Schedule Issued March 1, 1920, as Supplemented)
IMMEDIATE CREDIT
When received by 9 a. m.
New York Clearing House banks (Reference to List A, page 4)
Northern New Jersey Clearing House banks (Reference to List B, page 6)
Checks and warrants on Treasurer of the United States, Washington
New York banks located above 59th Street (Reference to List C, page 7)
Brooklyn banks and bankers
)
also (Bank of Coney Island
iRidgewood National Bank J
When received by 3 p. m.
Federal Reserve Exchange Drafts
Federal Reserve Transfer Drafts
ONE DAY AFTER RECEIPT
New York City—Balance of Manhattan, when received by 9 a. m.
TVT~
Boston
District
Philadelphia
Richmond
•
Baltimore
Branch of
Pittsburgh
•
•
Buffalo
« "
TWO DAYS AFTER RECEIPT
1
3
5
5
4
2
Cleveland
District
Cincinnati
Branch of
Chicago
District
Detroit
Branch of
Atlanta
District
Birmingham
Branch of
Jacksonville
Branch of
Nashville
Branch of
Minneapolis
District
St. Paul
In District
St. Louis
District
Louisville
Branch of
THREE DAYS AFTER RECEIPT
New Orleans
Branch of
Memphis
Branch of
Little Rock
Branch of
Kansas City, Mo.
District
Kansas City, Kans. In District
Omaha
Branch of
Oklahoma City
Branch of
Dallas
District
FOUR DAYS AFTER RECEIPT
Helena
Branch of
El Paso
Branch of
Houston
Branch of
Denver
Branch of
Spokane
Branch of
Salt Lake City
Branch of
Portland, Ore.
Branch of
Seattle
Branch of
No.
4
4
7
7
6
6
6
6
9
9
8
8
No.
6
8
8
10
10
10
10
11
No.
4
11
11
10
12
12
12
12
FIVE DAYS AFTER RECEIPT
San Francisco
District
Los Angeles
Branch of
No.
12
12
Banks in
Connecticut
Delaware
District of Columbia
Maine
*Maryland
*Massachusetts
New Hampshire
Banks in
•Alabama
•Arkansas
•Georgia
•Florida
•Illinois
Indiana
Iowa
•Kansas
•Kentucky
•Michigan
•Except banks in cities referred to in the first column.
New Jersey
•New York
•Pennsylvania
Rhode Island
Vermont
•Virginia
2
•Minnesota
Mississippi
•Missouri
North Carolina
•Ohio
South Carolina
•Tennessee
West Virginia
Wisconsin
^o^U^tyuxcf
Banks in
EIGHT DAYS AFTER RECEIPT
Arizona
*California
*Colorado
Idaho
*Louisiana
•Montana
•Nebraska
Nevada
New Mexico
North Dakota
•Oklahoma
•Oregon
South Dakota
•Texas
•Utah
•Washington
Wyoming
•Except banks in cities referred to in the first column.
TIME SCHEDULE INFORMATION AND INSTRUCTIONS
Two-day items received by us in time to be forwarded Saturday will be available Tuesday.
Four-day items received by us in time to be forwarded Thursday will be available
Tuesday, and those received by us in time to be forwarded Friday and Saturday will be
available Wednesday.
This schedule is prepared on average time for available funds and does not indicate the
actual time required for collection. It must be noticed therefore that advice of availability
cannot be considered advice of actual payment.
To obtain quickest availability of funds, sort and list checks in accordance with the foregoing time schedule, with a separate letter or total for each separate time group. Checks
received unsorted will be made available for the longest period of any items enclosed.
No bank is authorized to send checks direct to other Federal Reserve Banks or their
branches without first having secured our permission. This is required in order that we
may make the necessary arrangements with the other Federal Reserve Banks and branches.
Checks will be received and forwarded by the Federal Reserve Bank of New York,
subject to the following instructions:
Wire direct to this bank non-payment of items of $500 or over, naming endorsement
immediately preceding that of this bank, and giving reason for non-payment.
Items of $10 or under—DO NOT PROTEST
/ If items do not bear on the face this
T*
, 41ftft1
i
T>T>rvrr>cT'J stamp I". P. i-i2o | or a similar stamp conItems of $10.01 and over-PROTEST-^ t a i n i ^ g 'thTTrlnsit number of a preceding
' bank endorser.
Checks with special instructions, protested checks forwarded for payment the second time
and drafts drawn on savings banks in this district, should not be included in cash letters.
They will be handled for collection only.
General Conditions
Every bank sending checks or other cash items to us, or to another Federal Reserve Bank direct,
for our account, will be understood to have agreed that in receiving such items we will act only as the
collecting agent of the sending bank; that we will be responsible only for due diligence and care in forwarding such items promptly; that we are authorized to send such items, for payment in cash or bank
draft, direct to the bank on which they are drawn, or, in our discretion, to forward them to another agent
with authority to send them, for payment in cash or bank draft, direct to the bank on which they are
drawn; and that we are authorized to charge back the amount of any items {whether or not the items
themselves can be returned) which actually have not been paid either in cash or bank draft which actually
has been paid.
-2 GfT - ^ O t Z ^ w W
'
LIST A
M E M B E R S OF N E W YORK CLEARING H O U S E ASSOCIATION AND
N O N - M E M B E R S CLEARING THROUGH T H E M
NO.
. ..
21
. ..
13
6
. ..
2
Name
Adams-Southern Express Co. Money orders (clear through 21)
Adams Express Company, Money orders (clear through 21)
American Exchange National Bank
American Express Company, Money orders (clear through 23)
Atlantic National Bank
103
. ..
70
102
Bank of America
Bank of Long Island (clear through 2)
Bank of the Manhattan Company
Bank of Montreal, New York Agents (clear through 8)
Bank of New York, N . B. A.
Bank of Washington Heights (clear through 4)
Bankers Trust Company
Battery Park National Bank (clear through 54)
Bowery Bank
Brooklyn Trust Company
. ..
. ..
30
74
12
99
111
122
. ..
77
78
72
45
Canadian Bank of Commerce, New York (clear through 21)
Candian Northern Express Company Money Orders (clear through 21)
Canadian Express Company, Money orders (N. Y.) (clear through 23)
Chatham & Phenix National Bank
Chase National Bank
Chemical National Bank
Coal & Iron National Bank
Columbia Trust Company
Columbia Bank
Colonial Bank (clear through 17)
Commercial Exchange Bank
Commonwealth Bank
Continental Bank
Corn Exchange Bank
1
Dominion Express, Money orders (clear through 8)
59
123
East River National Bank
Equitable Trust Company
121
120
108
76
82
65
Farmers Loan & Trust Company
Federal Reserve Bank of New York
Fidelity-International Trust Company
Fifth Avenue Bank
Fifth National Bank
First National Bank
81
. ..
.. .
17
107
Garfield National Bank
Grace, W. R. & Company, Bank (clear through 45)
Great Northern Express Company, Money orders (clear through 74)
Greenwich Bank
Guaranty Trust Company
4
LIST A—Continued
No.
33
53
67
110
91
116
4
44
117
118
23
15
8
54
71
114
28
113
...
85
63
96
Name
Hamilton Trust Company Brooklyn, N . Y. (clear through 44)
Hanover National Bank
Importers' & Traders' National Bank
International Bank (clear through 108)
Irving National Bank
Lawyers Title & Trust Company
Liberty National Bank
Lincoln Trust Company
Mechanics & Metals National Bank
Mechanics Trust Company, Bayonne, N . J. (clear through 33)
Metropolitan Bank
Metropolitan Trust Company
Mutual Bank (clear through 54)
Nassau National Bank, Brooklyn
National Bank of Commerce
National Butchers' & Drovers Bank
National City Bank
National Park Bank
Newfoundland Express Money Orders (clear through 8)
New York County National Bank
New York Trust Company
Northern Pacific Express Money orders (clear through 74)
Pacific Bank
Pacific Express Company, Money orders (clear through 74)
Peoples Trust Company of Brooklyn
Post Office Money orders
Seaboard National Bank
Second National Bank
Sherman National Bank (clear through 67)
Southern Express Co. Money orders (clear through 4)
State Bank
106
Title Guarantee & Trust Company
100
104
Union Exchange National Bank
U. S. Mortgage & Trust Company
SL «f& '
Wells Fargo & Company, Express Money orders (clear through 23)
Western Express Company, Money orders (clear through 65)
Yorkville Bank (clear through 54)
5
CCKZZWAC/-
v-^0 *X-/t-C-*C-t-C-t. CT
LIST B
M E M B E R S OF NORTHERN N E W JERSEY CLEARING H O U S E ASSOCIATION AND
N O N - M E M B E R S CLEARING THROUGH
NO.
Name
11
Bayonne Trust Company, Bayonne
14
6
Claremont Bank, Jersey City
Commercial Trust Co. of N . J., Jersey City
6A Grove Street Branch
6B Five Corners Branch
1
5
2
THEM
Federal Reserve Bank, New York
First National Bank, Hoboken
5B Hoboken Trust Company*
5C First National Bank of Secaucus*
First National Bank, Jersey City
2A Hudson City Savings Bank*
12
Greenville Banking & Trust Company, Jersey City
4
16
Hudson County National Bank, Jersey City
Hudson Trust Company, Hoboken
16A Hudson Trust Company, West Hoboken
22
Jefferson Trust Company, Hoboken, N . J.
7
Lincoln Trust Company, Jersey City
3
13
Mercantile Trust Company, Jersey City
Merchants National Bank, Jersey City
21
19
9
National Newark and Essex Banking Company, Newark
National State Bank, Newark
N . J. Title Guarantee & Trust Co., Jersey City
9A Bergen Branch
9B West New York Branch
20
8
Savings Investment & Trust Company, East Orange
Second National Bank, Hoboken
8A Columbia Trust Company*
Steneck Trust Company, Hoboken
18
15
Trust Co. of New Jersey, Hoboken
15A Bergen & Lafayette Branch, Jersey City
15B Carteret Branch, Jersey City
15C Peoples Safe Deposit Branch, Jersey City
15D Town of Union Branch, Town of Union
17
Union Trust Company, Jersey City
17A First Branch, Bayonne
17B City Branch, Bayonne
10
Weehawken Trust Company, Town of Union
•Non-Member Clearing Banks
6
LIST C
ZXS~#' Cc^ZZL^ULe/ -
N E W Y O R K C I T Y B A N K S LOCATED ABOVE 5 9 T H STREET
Name
•v
Bank of United States
Broadway Central Bank
Bronx Borough Bank and Branch
Bronx National Bank
Chelsea Exchange Bank
Cosmopolitan Bank
Industrial Bank
Italian Discount & Trust Co. (Harlem Branch)
John Nemeth State Bank
Manufacturers Trust Company (West Side Office)
National American Bank
New Netherland Bank
\ Gotham National Bank
also
\ Harriman National Bank
Perrera & Company
Public National Bank (Bronx & Madison Ave. Branches)
Republic Bank of New York
Salvatore de Vita
Twenty-third Ward Bank and Branches
@FedFRASER